Mullen Automotive’s stock bounces off record low after retaining law firm to ‘take action’ against naked short sellers

Shares of Mullen Automotive Inc.

rose 3.9% in premarket trading Wednesday, after the electric vehicle maker said it retained Christian Attar to combat illegal naked short-selling activities. The stock’s bounce comes after it closed Monday at a record low of 10.1 cents, despite the company reporting the week before that it recorded revenue for the first time and that it was in the best financial position in its history.

rose 3.9% in premarket trading Wednesday, after the electric vehicle maker said it retained Christian Attar to combat illegal naked short-selling activities. The stock’s bounce comes after it closed Monday at a record low of 10.1 cents, despite the company reporting the week before that it recorded revenue for the first time and that it was in the best financial position in its history.

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